Question 1

What is Texas Instruments's P/FCF ratio?

Accepted Answer

Texas Instruments (TXN) P/FCF ratio is 50.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Texas Instruments?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Texas Instruments specifically, the relevant sector benchmark is the current sector median of 21.8×.

Question 5

Is Texas Instruments's P/FCF ratio high or low?

Accepted Answer

Texas Instruments's P/FCF ratio of 50.5× is below its own 5-year average of 73.6× and above the sector median of 21.8×. That places the current reading at the 45th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Texas Instruments's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Texas Instruments (TXN) P/FCF ratio has ranged from a low of 7.7× in 2008 to a high of 201.6× in 2024. The 5-year average is 73.6× and the 5-year median is 60.6×.

Question 7

What was Texas Instruments's P/FCF ratio in 2025?

Accepted Answer

Texas Instruments (TXN) P/FCF ratio at the end of 2025 was 60.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Texas Instruments's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$158B	$2.6B	60.6×	-53.6×	Dec 31, 2025
2024	$171B	$1.5B	114.2×	-0.6×	Dec 31, 2024
2023	$155B	$1.35B	114.7×	+89.5×	Dec 31, 2023
2022	$150B	$5.92B	25.3×	-2.4×	Dec 31, 2022
2021	$174B	$6.29B	27.7×	+0.2×	Dec 31, 2021
2020	$151B	$5.49B	27.5×	+6.8×	Dec 31, 2020
2019	$120B	$5.8B	20.6×	+5.8×	Dec 31, 2019
2018	$90.1B	$6.06B	14.9×	-7.2×	Dec 31, 2018
2017	$103B	$4.67B	22.0×	+3.3×	Dec 31, 2017
2016	$72.7B	$3.89B	18.7×	+3.8×	Dec 31, 2016
2015	$55.4B	$3.72B	14.9×	-1.0×	Dec 31, 2015
2014	$56B	$3.51B	16.0×	-0.1×	Dec 31, 2014
2013	$47.7B	$2.97B	16.0×	+4.3×	Dec 31, 2013
2012	$34.4B	$2.92B	11.8×	-1.8×	Dec 31, 2012
2011	$33.1B	$2.44B	13.6×	-1.0×	Dec 31, 2011
2010	$38.1B	$2.62B	14.5×	-2.6×	Dec 31, 2010
2009	$32.4B	$1.89B	17.1×	+9.4×	Dec 31, 2009
2008	$19.9B	$2.57B	7.7×	-4.6×	Dec 31, 2008
2007	$45.8B	$3.72B	12.3×	-23.3×	Dec 31, 2007
2006	$42.3B	$1.19B	35.6×	+14.5×	Dec 31, 2006
2005	$51.4B	$2.44B	21.1×	-1.9×	Dec 31, 2005
2004	$42.4B	$1.85B	23.0×	-16.9×	Dec 31, 2004
2003	$53.8B	$1.35B	39.9×	+19.3×	Dec 31, 2003
2002	$24.5B	$1.19B	20.6×	—	Dec 31, 2002


Zebra Technologies (ZBRA)	12.2×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Leidos Holdings (LDOS)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	9.8×
Accenture (ACN)	9.6×
Strategy (MSTR)	9.2×
Gartner (IT)	8.8×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Science Applications International (SAIC)	7.0×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
HP (HPQ)	5.1×
Lyft (LYFT)	4.5×
IBM (IBM)	0.0×

P/FCF Ratio for Texas Instruments (TXN) 2002-2026

P/FCF Ratio daily chart for Texas Instruments (TXN)

Historical P/FCF Ratio for Texas Instruments (TXN) from 2002 to 2025

About P/FCF Ratio at Texas Instruments (TXN)

Texas Instruments P/FCF Ratio by Year

Texas Instruments P/FCF Ratio 2025: 60.6×

Texas Instruments P/FCF Ratio 2024: 114.2×

Texas Instruments P/FCF Ratio 2023: 114.7×

Texas Instruments P/FCF Ratio 2022: 25.3×

Texas Instruments P/FCF Ratio 2021: 27.7×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Texas Instruments (TXN) Key Financials